Upload Button Icon Add office photos
Engaged Employer

i

This company page is being actively managed by Ernst & Young Team. If you also belong to the team, you can get access from here

Ernst & Young Verified Tick

Compare button icon Compare button icon Compare

Filter interviews by

Ernst & Young Assurance Associate Interview Questions, Process, and Tips

Updated 30 Dec 2022

Top Ernst & Young Assurance Associate Interview Questions and Answers

  • Q1. Tell the journal entries for sales return and purchase return.
  • Q2. What is auditing? Different methods of depreciation and basic journal entries.
  • Q3. how much experience you have, what do you understand through anti money laundering?
View all 28 questions

Ernst & Young Assurance Associate Interview Experiences

12 interviews found

I applied via Campus Placement and was interviewed in Mar 2022. There were 4 interview rounds.

Round 1 - Aptitude Test 

General questions 60 questions for 60 mins

Round 2 - HR 

(3 Questions)

  • Q1. Question related to resume
  • Q2. Tell me about yourself?
  • Q3. What do you know about EY?
Round 3 - Technical 

(3 Questions)

  • Q1. Tell me about yourself
  • Q2. What do know about AML/KYC
  • Ans. 

    AML/KYC refers to Anti-Money Laundering and Know Your Customer regulations that financial institutions must comply with.

    • AML/KYC regulations are designed to prevent money laundering and terrorist financing.

    • Financial institutions must verify the identity of their customers and monitor their transactions for suspicious activity.

    • Examples of suspicious activity include large cash deposits, frequent international transfers, ...

  • Answered by AI
  • Q3. What do you understand through assurance associate?
  • Ans. 

    Assurance associate is responsible for ensuring accuracy and compliance of financial statements and reports.

    • Assist in audits and reviews of financial statements

    • Evaluate internal controls and identify areas for improvement

    • Ensure compliance with accounting standards and regulations

    • Communicate findings and recommendations to clients

    • Examples: PwC Assurance Associate, EY Assurance Associate

  • Answered by AI
Round 4 - BM round 

(1 Question)

  • Q1. How much experience you have, what do you understand through anti money laundering?
  • Ans. 

    I have X years of experience. Anti-money laundering refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.

    • I have X years of experience in the field of anti-money laundering.

    • Anti-money laundering (AML) is a set of laws, regulations, and procedures designed to prevent the illegal generation of income.

    • AML is intended to prevent criminals...

  • Answered by AI

Interview Preparation Tips

Topics to prepare for Ernst & Young Assurance Associate interview:
  • Aml
  • KYC
Interview preparation tips for other job seekers - just prepare through JD and your resume.

I applied via Company Website and was interviewed in Nov 2021. There was 1 interview round.

Interview Questionnaire 

11 Questions

  • Q1. What is your strength and weakness
  • Q2. Where do you see yourself in next five years
  • Q3. What do you understand by audit .
  • Ans. 

    Audit is a systematic and independent examination of financial statements, records, operations, and performance of an organization.

    • Audit is a process of evaluating the financial statements of an organization to ensure their accuracy and reliability.

    • It involves examining the records, operations, and performance of an organization to identify any discrepancies or irregularities.

    • The purpose of an audit is to provide assur...

  • Answered by AI
  • Q4. What is accrued income and entry for that .
  • Ans. 

    Accrued income is income that has been earned but not yet received or recorded in the accounting books.

    • Accrued income is recognized as a current asset on the balance sheet.

    • It is recorded through an adjusting entry, which debits an accrued income account and credits the corresponding revenue account.

    • Examples of accrued income include interest on investments, rent, and services rendered but not yet billed.

    • Accrued income ...

  • Answered by AI
  • Q5. Entries for sales , purchase , profit on sale , loss on sale .
  • Q6. Prepaid expenses and its entry
  • Ans. 

    Prepaid expenses are expenses paid in advance and recorded as assets until they are used or consumed.

    • Prepaid expenses are initially recorded as assets on the balance sheet

    • As the prepaid expense is used or consumed, it is recognized as an expense on the income statement

    • The entry for prepaid expenses is a debit to the prepaid expense account and a credit to the cash account

    • Examples of prepaid expenses include rent, insur

  • Answered by AI
  • Q7. What do you know about accounting standards and gaap .
  • Ans. 

    GAAP stands for Generally Accepted Accounting Principles and is a set of accounting standards used in the US.

    • GAAP is a set of guidelines for financial reporting that ensures consistency and transparency in financial statements.

    • It includes principles for revenue recognition, expense recognition, and asset valuation.

    • Examples of GAAP include the matching principle, which requires expenses to be recognized in the same peri...

  • Answered by AI
  • Q8. Previous work done in internships.
  • Q9. Bank reconcillation statement .
  • Q10. What is debit and what is credit .
  • Ans. 

    Debit and credit are two sides of an accounting transaction. Debit refers to an entry on the left side of an account, while credit refers to an entry on the right side of an account.

    • Debit is used to record an increase in assets or a decrease in liabilities or equity.

    • Credit is used to record a decrease in assets or an increase in liabilities or equity.

    • Debit and credit must always balance in an accounting transaction.

    • For...

  • Answered by AI
  • Q11. Entry for depriciation .
  • Ans. 

    Depreciation is the allocation of the cost of an asset over its useful life.

    • Depreciation is a non-cash expense that reduces the value of an asset over time.

    • It is recorded as an expense in the income statement and reduces the net income.

    • There are various methods of depreciation such as straight-line, declining balance, and sum-of-the-years-digits.

    • Depreciation is important for accurate financial reporting and tax purpose...

  • Answered by AI

Interview Preparation Tips

Interview preparation tips for other job seekers - be prepared with in depth knowledge of accounts and audit . it was a technical interview . i dont have the results now.

Assurance Associate Interview Questions Asked at Other Companies

Q1. Tell the journal entries for sales return and purchase return.
Q2. relation between audit and accounting, cash sales, depriciation, ... read more
Q3. What is auditing? Different methods of depreciation and basic jou ... read more
Q4. how much experience you have, what do you understand through anti ... read more
Q5. What do you understand through assurance associate?

I applied via Campus Placement and was interviewed before Oct 2021. There were 4 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Keep your resume crisp and to the point. A recruiter looks at your resume for an average of 6 seconds, make sure to leave the best impression.
View all tips
Round 2 - Aptitude Test 

Topics may vary for the aptitude test from candidate to candidate. For me, this test was comprised of only two subjects i.e, Accounts and English. Both the paper was subjective and the duration was about an hour.

Round 3 - Hireview 

(1 Question)

  • Q1. Tell us about your family.
Round 4 - One-on-one 

(3 Questions)

  • Q1. Give us a short introduction about yourself.
  • Q2. What is your future plan and how will it help our organization?
  • Q3. How many rules of accounting are there and speak about their classification?
  • Ans. 

    There are two main sets of accounting rules: GAAP and IFRS.

    • Generally Accepted Accounting Principles (GAAP) are used in the United States.

    • International Financial Reporting Standards (IFRS) are used in many other countries.

    • GAAP and IFRS have some differences in their rules and guidelines.

    • There are also industry-specific accounting rules, such as those for healthcare or real estate.

    • Overall, there is no set number of accou...

  • Answered by AI

Interview Preparation Tips

Interview preparation tips for other job seekers - Thoroughly read the job description first to prepare beforehand and be transparent with your answers. Don't be nervous. Just keep yourself relaxed,
Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
6-8 weeks
Result
Selected Selected

I applied via Referral and was interviewed before Dec 2021. There were 4 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Don’t add your photo or details such as gender, age, and address in your resume. These details do not add any value.
View all tips
Round 2 - One-on-one 

(2 Questions)

  • Q1. Walk me throught your profile
  • Q2. What were your roles and responsibilities in your pervious organisation?
Round 3 - Technical 

(2 Questions)

  • Q1. About the process that i would be working for(subjective)
  • Q2. Asked questions baes on cases
Round 4 - HR 

(1 Question)

  • Q1. It was a general discussion that has happened

Interview Preparation Tips

Interview preparation tips for other job seekers - Be confident when you talk about something, brush up your communication and interpersonal skills, don’t be nervous, reasearch about the company, Be honest.

Ernst & Young interview questions for designations

 Advanced Assurance Associate

 (1)

 Assurance

 (6)

 Audit Associate

 (10)

 Advanced Associate

 (5)

 Financial Associate

 (3)

 Accounts Associate

 (1)

 Assurance Consultant

 (4)

 Senior Assurance

 (2)

I applied via LinkedIn and was interviewed in Apr 2021. There were 4 interview rounds.

Interview Questionnaire 

5 Questions

  • Q1. Journal entry of accred interest
  • Ans. 

    A journal entry of accrued interest is recorded to recognize interest expense that has been incurred but not yet paid.

    • Accrued interest is a liability account that represents the amount of interest expense that has been incurred but not yet paid.

    • The journal entry for accrued interest involves debiting the interest expense account and crediting the accrued interest payable account.

    • For example, if a company has incurred $...

  • Answered by AI
  • Q2. What is provision?
  • Ans. 

    Provision is an amount set aside for a specific purpose or expense.

    • Provision is a financial term used in accounting.

    • It is an amount set aside for a specific purpose or expense.

    • Provisions are made to cover future expenses or losses.

    • Examples include provisions for bad debts, warranties, and taxes.

    • Provisions are recorded as liabilities on the balance sheet.

    • They are adjusted over time based on changes in circumstances.

    • Prov...

  • Answered by AI
  • Q3. What is audit risk?
  • Ans. 

    Audit risk is the risk that an auditor may give an inappropriate opinion on financial statements.

    • It is the risk that the auditor may miss material misstatements in the financial statements.

    • It is the risk that the auditor may give an incorrect opinion on the financial statements.

    • It is the combination of inherent risk, control risk, and detection risk.

    • The auditor must assess and manage audit risk to provide reasonable as...

  • Answered by AI
  • Q4. Why do we do audit?
  • Ans. 

    Audits ensure financial statements are accurate and reliable.

    • To provide assurance to stakeholders that financial statements are accurate and reliable

    • To comply with legal and regulatory requirements

    • To identify and mitigate financial risks

    • To improve internal controls and operational efficiency

    • To enhance credibility and reputation of the organization

    • Example: Auditing a company's financial statements to ensure compliance w...

  • Answered by AI
  • Q5. Where do you see yourself in 5 years?

Interview Preparation Tips

Interview preparation tips for other job seekers - Prepare the basics.
Be confident.
Be honest.

Skills evaluated in this interview

Get interview-ready with Top Ernst & Young Interview Questions

I applied via Recruitment Consultant and was interviewed in Jan 2021. There was 1 interview round.

Interview Questionnaire 

4 Questions

  • Q1. 1. Deferred tax with examples
  • Ans. 

    Deferred tax is a liability or asset that arises due to temporary differences between accounting and tax rules.

    • Deferred tax is calculated using the tax rate that is expected to apply when the asset is realized or liability is settled.

    • Examples of temporary differences include depreciation, inventory valuation, and revenue recognition.

    • If accounting income is greater than taxable income, a deferred tax liability is create...

  • Answered by AI
  • Q2. OCI
  • Q3. Covid affected business- factors to consider and reporting aspect
  • Ans. 

    Covid's impact on business and reporting considerations for Assurance Associate

    • Consider the impact of Covid on the business's financial statements

    • Assess the impact on revenue, expenses, and cash flows

    • Evaluate the adequacy of disclosures related to Covid in the financial statements

    • Consider the impact of Covid on internal controls and the audit process

    • Assess the going concern assumption in light of Covid

    • Consider the impa...

  • Answered by AI
  • Q4. Experience based questions

Interview Preparation Tips

Interview preparation tips for other job seekers - Show confidence and try to attempt questions with examples if possible.

I applied via Campus Placement and was interviewed in Feb 2021. There were 6 interview rounds.

Interview Questionnaire 

1 Question

  • Q1. 1. Aptitude 2. Video interview - general introduce yourself, why this job, tell me abt your family etc.

Interview Preparation Tips

Interview preparation tips for other job seekers - Make sure you see what the pymetrics test is about and what qualities you will be needed for assurance and pick or do extra well in those rounds.

I applied via Campus Placement and was interviewed before Aug 2021. There were 5 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Properly align and format text in your resume. A recruiter will have to spend more time reading poorly aligned text, leading to high chances of rejection.
View all tips
Round 2 - Aptitude Test 

It majorly includes basic quant, data interpretation and logical reasoning. And some basic excel formulae too.

Round 3 - Video Call 

(1 Question)

  • Q1. Basic introduction , plan for higher studies and family background
Round 4 - One-on-one 

(3 Questions)

  • Q1. Basic accounting questions like golden rules of accounting, difference between GP and NP.
  • Q2. What is auditing? Different methods of depreciation and basic journal entries.
  • Q3. Excel shortcut formulae
  • Ans. 

    Excel shortcut formulae

    • Use Ctrl + D to copy the formula down a column

    • Use Ctrl + R to copy the formula across a row

    • Use F4 to toggle between absolute and relative references

  • Answered by AI
Round 5 - HR 

(4 Questions)

  • Q1. Prior year internship/job experience
  • Q2. Basic introduction of yourself
  • Q3. Plan for higher studies
  • Q4. Hobbies, what you do in your free time

Interview Preparation Tips

Topics to prepare for Ernst & Young Assurance Associate interview:
  • Accounting
Interview preparation tips for other job seekers - Just be confident and be you! Don't get panic, and it is "okay" to give wrong answers being freshers.

Assurance Associate Interview Questions & Answers

user image Aditi kaushal

posted on 20 May 2018

I applied via Recruitment Consultant and was interviewed in Apr 2018. There were 4 interview rounds.

Interview Questionnaire 

2 Questions

  • Q1. HR asks you about your past experiences, reason for leaving your past job and why you want to join EY.
  • Q2. Line manager round is all about the details on your resume. Your experience, your future plans, they test your verbal english, your competency in your core experience

Interview Preparation Tips

General Tips: It was very smooth and easy process. My advise to all of you will be that be prepared with everything mentioned on your resume. Be confident and say no to the question which you don't know the answers. Its okay not to know everything. They just need to check your attitude and competency level else they will anyhow train you on their work. All the very best to all of you.
Skills: Accounting, Communication, Body Language, Problem Solving, Analytical Skills
Duration: <1 week

I was interviewed before Sep 2016.

Interview Questionnaire 

3 Questions

  • Q1. Basic information about yourself
  • Q2. Basic Accountancy questions
  • Q3. Rapid Accountancy based questions

Interview Preparation Tips

Round: Test
Experience: MCQs, basic level questions
Duration: 3 hours
Total Questions: 60

College Name: IP College for Women

Ernst & Young Interview FAQs

How many rounds are there in Ernst & Young Assurance Associate interview?
Ernst & Young interview process usually has 4-5 rounds. The most common rounds in the Ernst & Young interview process are Resume Shortlist, Aptitude Test and One-on-one Round.
How to prepare for Ernst & Young Assurance Associate interview?
Go through your CV in detail and study all the technologies mentioned in your CV. Prepare at least two technologies or languages in depth if you are appearing for a technical interview at Ernst & Young. The most common topics and skills that interviewers at Ernst & Young expect are IFRS, Quality Assurance, US GAAP, Accounting and Agile Coaching.
What are the top questions asked in Ernst & Young Assurance Associate interview?

Some of the top questions asked at the Ernst & Young Assurance Associate interview -

  1. Tell the journal entries for sales return and purchase retu...read more
  2. What is auditing? Different methods of depreciation and basic journal entri...read more
  3. how much experience you have, what do you understand through anti money launder...read more

Tell us how to improve this page.

Ernst & Young Assurance Associate Interview Process

based on 2 interviews

4 Interview rounds

  • Technical Round - 1
  • HR Round
  • Technical Round - 2
  • Personal Interview1 Round
View more

Interview Questions from Similar Companies

TCS Interview Questions
3.7
 • 10.4k Interviews
Accenture Interview Questions
3.8
 • 8.2k Interviews
Capgemini Interview Questions
3.7
 • 4.8k Interviews
Deloitte Interview Questions
3.8
 • 2.9k Interviews
IBM Interview Questions
4.0
 • 2.4k Interviews
PwC Interview Questions
3.4
 • 1.4k Interviews
KPMG India Interview Questions
3.5
 • 802 Interviews
ZS Interview Questions
3.4
 • 483 Interviews
BCG Interview Questions
3.8
 • 196 Interviews
View all
Ernst & Young Assurance Associate Salary
based on 593 salaries
₹1.3 L/yr - ₹7 L/yr
16% less than the average Assurance Associate Salary in India
View more details

Ernst & Young Assurance Associate Reviews and Ratings

based on 76 reviews

3.3/5

Rating in categories

3.3

Skill development

2.6

Work-life balance

2.9

Salary

3.8

Job security

3.2

Company culture

3.0

Promotions

2.8

Work satisfaction

Explore 76 Reviews and Ratings
Senior Consultant
15.8k salaries
unlock blur

₹9 L/yr - ₹33.3 L/yr

Consultant
12k salaries
unlock blur

₹6 L/yr - ₹20 L/yr

Manager
7.6k salaries
unlock blur

₹12 L/yr - ₹51.2 L/yr

Assistant Manager
6.4k salaries
unlock blur

₹9.5 L/yr - ₹28.7 L/yr

Associate Consultant
3.9k salaries
unlock blur

₹3.3 L/yr - ₹12 L/yr

Explore more salaries
Compare Ernst & Young with

Deloitte

3.8
Compare

PwC

3.4
Compare

EY Global Delivery Services ( EY GDS)

3.6
Compare

Accenture

3.8
Compare
Did you find this page helpful?
Yes No
write
Share an Interview